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summit","china-s-rare-earth-export-controls-show-little-sign-of-easing-after-trump-xi-summit","article/china-s-rare-earth-export-controls-show-little-sign-of-easing-after-trump-xi-summit",{"_uid":547,"date":548,"tags":549,"editor":565,"content":575,"excerpt":678,"featured":51,"reporter":679,"component":689,"seo_title":690,"categories":691,"visibility":700,"data_vis_image":701,"featured_image":706,"seo_description":710,"formattedDate":711,"formattedArticleDate":712},"1202cbfd-2b7c-4489-aff6-0ca0c3194fe2","2026-05-21 00:00",[550,553,556,559,562],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"usa","USA",{"slug":557,"name":558},"north-america","North America",{"slug":560,"name":561},"rare-earths-prices","rare earths prices",{"slug":563,"name":564},"data-visualisation","Data Visualisation",[566],{"slug":567,"name":568,"content":569},"matthew-bird","Matthew Bird",{"job_title":570,"image":571,"bio":573,"linkedin":574},"Senior Editor - Supply Chains & Data Visualisation",{"filename":572},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":576,"content":577},"doc",[578,597,602,607,618,648,662,668,673],{"type":579,"attrs":580,"content":581},"paragraph",{"textAlign":49},[582,585,595],{"text":583,"type":584},"China’s ","text",{"text":586,"type":584,"marks":587},"rare earth export regime",[588],{"type":589,"attrs":590},"link",{"href":591,"uuid":592,"anchor":49,"target":593,"linktype":594},"/videos/the-impact-of-export-controls-on-the-rare-earths-market","22e1aed6-2594-4f9a-a09f-805bcfe74d9e","_self","story",{"text":596,"type":584}," remains largely unchanged following the 14–15 May 2026 summit between US President Donald Trump and Chinese President Xi Jinping, underlining limited progress on one of the most strategically sensitive elements of bilateral trade.",{"type":579,"attrs":598,"content":599},{"textAlign":49},[600],{"text":601,"type":584},"A White House summary stated that Beijing had agreed to address US concerns over shortages of key rare earths, including yttrium, scandium, and neodymium. This marks a shift from October 2025, when Washington said China had committed to \"effectively eliminate\" export controls on critical minerals. That reference has now been dropped, signalling implicit acceptance that China’s export licensing regime – introduced in April 2025 in response to US tariffs, will remain in place.",{"type":579,"attrs":603,"content":604},{"textAlign":49},[605],{"text":606,"type":584},"Physical market conditions point to only modest improvement. Export flows of low-grade magnets have recovered somewhat, particularly into commercial sectors such as automotive and consumer electronics. However, approvals remain inconsistent, with continued delays affecting aerospace, defence, and advanced manufacturing applications where rare earths have strategic importance. Yttrium exports remain constrained. US officials still report the need for case-by-case intervention to secure shipments.",{"type":608,"attrs":609},"blok",{"id":610,"body":611},"a829a4d2-9f8e-418a-954d-dba10076b670",[612],{"id":613,"_uid":614,"type":615,"component":616,"fixed_height":617,"use_fixed_height":50,"fixed_height_mobile":617,"fixed_height_tablet":617},"29073145","i-1409c8c8-68da-47a7-a758-7ccccee00940","visualisation","ContentFlourish","",{"type":579,"attrs":619,"content":620},{"textAlign":49},[621,628,630,637,639,646],{"text":622,"type":584,"marks":623},"Pricing signals",[624],{"type":589,"attrs":625},{"href":626,"uuid":627,"anchor":49,"target":593,"linktype":594},"/article/tight-supply-and-chinese-policy-drive-prices-rare-earths-q1-2026-price-review","f85d8788-f2e7-451e-a4e9-ac8d2eb07c47",{"text":629,"type":584}," reinforce the persistence of constraints. Benchmark reports, for example, that Yttrium is trading at ~US$1,750/kg in North America compared with ~US$10/kg in China, highlighting severe regional price dislocation. More broadly, ",{"text":631,"type":584,"marks":632},"magnet prices",[633],{"type":589,"attrs":634},{"href":635,"uuid":636,"anchor":49,"target":593,"linktype":594},"/videos/why-benchmark-launched-rare-earth-permanent-magnet-prices","09f7d0a8-710e-49e5-92b2-5404b7f69535",{"text":638,"type":584}," outside China are significantly higher, with ",{"text":640,"type":584,"marks":641},"premiums varying by region",[642],{"type":589,"attrs":643},{"href":644,"uuid":645,"anchor":49,"target":593,"linktype":594},"/article/benchmark-launches-industry-leading-rare-earth-permanent-magnet-prices","5955e2f6-a2c3-48aa-9bb8-3e1a96183b78",{"text":647,"type":584},", application, and magnet composition, particularly those containing heavy rare earths.",{"type":579,"attrs":649,"content":650},{"textAlign":49},[651,653,660],{"text":652,"type":584},"In North America and Europe, OEMs are paying roughly twice as much for standard applications such as e-mobility, and up to three times more for defence-related uses. This ",{"text":654,"type":584,"marks":655},"divergence is being driven",[656],{"type":589,"attrs":657},{"href":658,"uuid":659,"anchor":49,"target":593,"linktype":594},"/article/ex-china-rare-earths-premium-to-grow-especially-for-heavies","15dc312f-8254-4eb3-a856-11af57feb532",{"text":661,"type":584}," less by PrNd and more by small quantities of dysprosium and terbium. Even minimal additions of these heavy rare earths now command a disproportionate premium, forcing manufacturers in high-spec applications, especially defence, to absorb materially higher costs.",{"type":608,"attrs":663},{"id":610,"body":664},[665],{"id":666,"_uid":667,"type":615,"component":616,"fixed_height":617,"use_fixed_height":50,"fixed_height_mobile":617,"fixed_height_tablet":617},"29075303","i-db2a2e73-8935-4249-9ab1-17904e690c3e",{"type":579,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":584},"The underlying market structure remains highly concentrated with China continuing to dominate heavy rare earth refining and magnet production, with ex-China supply remaining limited.",{"type":579,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":584},"“In the absence of sustained investment in heavy rare earth processing capacity and magnet manufacturing, supply bottlenecks and price volatility are likely to persist despite incremental diplomatic engagement,” says Benchmark rare earths research manager Neha Mukherjee.","China’s rare earth export regime remains largely unchanged following the 14–15 May 2026 summit between US President Donald Trump and Chinese President Xi Jinping, underlining limited progress on one of the most strategically sensitive elements of bilateral trade.\n\nA White House summary stated that Beijing had agreed to address US concerns over shortages of key rare earths, including yttrium, scandium, and neodymium. This marks a shift from October 2025, when Washington said China had committed to \"effectively eliminate\" export controls on critical minerals. That reference has now been dropped, signalling implicit acceptance that China’s export licensing regime – introduced in April 2025 in response to US tariffs, will remain in place.",[680],{"slug":681,"name":682,"content":683},"neha-mukherjee","Neha Mukherjee",{"job_title":684,"image":685,"bio":687,"linkedin":688,"markets_covered":414},"Senior Analyst - Rare Earths",{"filename":686},"https://a.storyblok.com/f/287943243085208/512x512/687eb77e03/neha-mukherjee.jpeg","Neha is a Research Manager at Benchmark Mineral Intelligence, where she leads the market analysis of rare earth elements, covering supply, demand, cost, pricing, and ESG factors. She has two years of experience in the critical minerals sector and has executed consulting projects focused on market due diligence. Her background includes roles in energy market consulting and management consulting. Neha holds a Master’s degree in Sustainable Energy from the University of Glasgow and a B.Tech in Electrical Engineering from India.","https://www.linkedin.com/in/neha-mukherjee-5825b0135/","article","China’s rare earth export controls show little sign of easing",[692,694,697],{"slug":693,"name":414},"rare-earths",{"slug":695,"name":696},"critical-minerals","Critical Minerals",{"slug":698,"name":699},"geopolitics","Geopolitics","private",{"id":702,"alt":617,"name":617,"focus":617,"title":617,"source":617,"filename":703,"copyright":617,"fieldtype":704,"meta_data":705,"is_external_url":50},178950310726154,"https://a.storyblok.com/f/287943243085208/1588x1312/fe54606b0a/us-defence-vs-supply-ree-2x.png","asset",{},{"id":707,"alt":617,"name":617,"focus":617,"title":617,"source":617,"filename":708,"copyright":617,"fieldtype":704,"meta_data":709,"is_external_url":50},178948122909096,"https://a.storyblok.com/f/287943243085208/3000x2000/cdc0ef81ab/trump-xi-jinping.jpg",{},"China’s rare earth export regime remains largely unchanged following the summit between US President Donald Trump and Chinese President Xi Jinping, underlining limited progress on one of the most strategically sensitive elements of bilateral trade.","May 21, 2026","21st May 2026",[],[],1783441468638]